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ByteDance is preparing to release its Seedance 2.1 video generation model, which reportedly improves generation quality by 20% from the previous versi…

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<a href="/company/bytedance">ByteDance</a> is preparing to release its Seedance 2.1 video generation model, which reportedly improves generation quality by 20% from the previous version. The update aims to enhance temporal consistency and physical simulation. ByteDance plans to integrate the model into its content creation tools, including CapCut.

Yangtze Memory Technologies (YMTC) has announced plans for an IPO. The Wuhan-based chipmaker holds about 14% of the global NAND flash market and is expanding production, with a third factory expected to begin operations by the end of 2026.

<a href="/company/luckin-coffee">Luckin Coffee</a> has launched a line of alcoholic beverages in China, following Starbucks in a push to use off-peak store hours. Luckin is relying on its 33,500-store network to drive frequent, lower-cost sales.

Investor Duan Yongping liquidated his Alibaba stake and initiated a position in Tesla during the first quarter of 2026, according to an SEC filing. His firm, H&amp;H International Investment, increased its Nvidia holdings by 91.3% and its Pinduoduo stake by 71%. The portfolio was valued at USD 20.04 billion as of March 31, up 14.4% from the end of 2025.

<a href="/company/tencent">Tencent</a> launched Marvis, an OS-level AI assistant, on May 21. The tool, available on Windows, Mac, and Android, integrates with system architecture to manage files, control desktop applications, and process images. Mavis uses a routing mechanism to distribute tasks between local and cloud models, enabling some offline functions.

<a href="/company/bilibili">Bilibili</a> will shut down its mobile live streaming app on June 17. The company said all core services on the app will cease that day. Users are encouraged to switch to the main Bilibili app, which now includes integrated live streaming features and upgraded beauty filters.

IDG Capital is seeking to raise USD 2 billion for a new growth fund focused on consumer technology and other consumer-oriented companies in China. The Hong Kong-based firm, which has backed Tencent and Coinbase, began fundraising two months ago and is targeting a first close by the end of 2026.

Stellantis and Chinese automaker Dongfeng Motor have unveiled a joint venture to explore manufacturing Dongfeng EVs in France. The partnership is intended to help Dongfeng meet European production regulations as global demand for electric and plug-in hybrid vehicles continues to rise.

T-Head unveiled its new Zhenwu M890 AI chip on May 20. The chip features 144 GB of memory and 800 GB per second of interconnect bandwidth, and the company said it delivers three times the performance of the previous 810E model. It supports data precision from FP32 to FP4 and integrates with the company’s ICN Switch 1.0 interconnect chip to support large-scale computing clusters.

<a href="/company/alibaba">Alibaba's</a> T-Head Semiconductor unit had shipped more than 540,000 Zhenwu <a href="/industry/ai">AI</a> chips as of April. The company announced the milestone at its May 20 summit, saying the chips now serve more than 400 customers across 20 industries.

<a href="/company/byd">BYD’s</a> Fangchengbao brand announced on May 20 that it has reached 400,000 total vehicle sales, with the Bao 7 model accounting for 150,000 units.

Photo shows a Nowwa Coffee outlet in the Wanzai Ancient City area of Yichun, Jiangxi.

Coffee

Nowwa’s shop-in-shop model has lowered costs, but also made quality control and brand building harder.

After crossing 10,000 stores, Nowwa Coffee faces the hard part

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Alibaba, China’s e-commerce giant, operates online retail marketplaces, cloud computing services, and digital payment networks across Asia and beyond.

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Taobao, Alibaba’s consumer-to-consumer marketplace, connects Chinese shoppers with diverse products, from fashion and electronics to everyday essentials.

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Tmall, Alibaba’s B2C platform, hosts premium brands and official stores, offering authenticated products to Chinese consumers seeking quality goods.

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Investors now have a clearer commercialization story, while Taobao Shangou shifts from subsidies to unit economics.

Has Alibaba’s AI bets started to meet the revenue test?

Li Auto develops electric vehicles that combine smart cockpit systems, advanced safety features, and long-distance battery support.

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The updated flagship SUV is the Chinese automaker’s first major move to defend its market position.

ByteDance to launch Seedance 2.1

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After crossing 10,000 stores, Nowwa Coffee faces the hard part

Has Alibaba’s AI bets started to meet the revenue test?

Li Auto plays its hand with the new Li L9, starting at RMB 459,800